KBC Group NV trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,614,965 shares of the information services provider's stock after selling 74,594 shares during the period. Alphabet comprises about 0.8% of KBC Group NV's holdings, making the stock its 18th biggest holding. KBC Group NV's holdings in Alphabet were worth $249,738,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of GOOGL. Addison Advisors LLC boosted its stake in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after purchasing an additional 53 shares during the period. Burt Wealth Advisors boosted its stake in Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after purchasing an additional 54 shares during the period. Perritt Capital Management Inc boosted its stake in Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares during the period. Nia Impact Advisors LLC boosted its stake in Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares during the period. Finally, Hanlon Investment Management Inc. boosted its stake in Alphabet by 1.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after purchasing an additional 60 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on GOOGL. Tigress Financial increased their target price on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Westpark Capital reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. Wedbush set a $190.00 price objective on Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Stifel Nicolaus reduced their price objective on Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Mizuho reduced their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.95.
View Our Latest Research Report on Alphabet
Insider Activity
In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company's stock, valued at $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,643 shares of company stock valued at $36,330,928. Company insiders own 11.64% of the company's stock.
Alphabet Trading Up 0.2%
GOOGL stock opened at $179.08 on Friday. The business has a fifty day moving average price of $168.70 and a 200 day moving average price of $173.97. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period last year, the firm posted $1.89 EPS. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.
About Alphabet
(
Free Report)
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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